Brunel Hive Review No 4 - October 18, 2019 P of 1 4

BRUNELHIVE REVIEW A Weekly Journal on University-Industry Partnerships and Global Business Growth

October 18, 2019

Brunel Hive Review No 4 - October 18, 2019 P of 1 4

Re-Connecting with India Re-Connecting with India Re-Connecting What is Brunel Hive’s role in the new UK-India economic re-positioning?

This has been an important and exciting week for Brunel Hive. We were invited to attend a day of UK-India networking by Europe India Centre for Business and Industry (EICBI) on Thursday at Croydon Town Hall, and at the Houses of Parliament. The morning session in Croydon provided very opportunities for visiting companies to explore the borough’s multi-billion inward investment drive and economic development strategy. The afternoon session was hosted in a Parliament committee room by Bob Blackman, Member of Parliament for Harrow East since 2010. On Friday, we hosted a lunch session for EICBI and two fast-growing Indian companies at the Brunel Lancaster Hotel. All three sessions provided Brunel Hive with exceptional first-hand insights and real-life case studies on the growing opportunities open to UK businesses across the Indian sub-

Brunel Hive Review No 4 - October 18, 2019 P of 2 4

continent, and also for Indian companies and graduate entrepreneurs planning to establish in the UK.

Trade ties between the UK and India have never been very stronger, with bilateral trade hitting an impressive £18 billion in 2017. The relationship has been referred to by India’s Prime Minister Modi as “an unbeatable combination”. As this centuries-old relationship continues to endure, a new horizon is emerging, driven by two key factors - Brexit and technology. Beyond the current political climate, the numbers driving the economic ties are impressive. The UK is the top G20 investor in India, ahead of any EU country. Over 270,000 UK companies generate over 800,000 jobs in India. In 2016, over 800 Indian companies generated combined revenues of £47.5 billion in the UK, delivering and safeguarding around 110,000 jobs. With major companies including Tata Sons, owners of TCS and Jaguar Land Rover, Wipro, and a host leading names all committed to the economic relationship, this ‘unbeatable relationship’ is set for new horizons.

These numbers, and many more, provide a strong backdrop to new UK-India Business relationships. Going forward, a number of questions however need answering. What does all this mean for Indian technology firms, UK design-led companies, and indeed, UK business schools and universities? How do the new immigration rules facilitate value creation across the UK by Indian graduates? How will Brexit change the entire landscape in the medium and long term? Above all, what is Brunel Hive’s role in this new, bilateral market and economic re-positioning?

Brunel Hive Review No 4 - October 18, 2019 P of 3 4

Speakers at the Parliament event were upbeat. Both countries believe that for many years after the formal UK exit from the European Union, the relationship between the two major trading nations will only grow stronger. Although the session focused on the beauty industry, other sectors continue to play a major role in strengthening the ties. Food and drink, energy, defence, medical technology, culture, life sciences and medical technology are all very much represented in the headline trading numbers.

The day ended with Dr Ainurul Rosli, director for Business Engagement at Brunel Business School, giving a short introduction to Brunel Hive, and inviting the companies and representatives of various institutions present to engage with Brunel Hive. Networking continued afterwards, with participants catching up on discussions from the earlier Croydon session. Dr. Monomita Nandy, director for internationalisation at Brunel Business School, led the Brunel Hive team.

At our Lancaster lunch on Friday, Monomita explored with our three guests how Indian companies can connect with Brunel Business School, across a number of engagement options. These service options include providing UK market research and facilitation services to enable them enter the UK market. She accepted invitations from them to visit their businesses in India.

The “special, unique relationship is very much alive and thriving, and the future for UK and Indian businesses working together profitably looks very bright. Brunel Hive’s contribution to this “unbeatable combination” will unfold over the coming months, as we start delivering our international programmes for Indian high-growth companies in April 2020.

Brunel Hive Review No 4 - October 18, 2019 P of 4 4